Ten receives non-binding offers ‘from a number of parties’ as deadline closes

Ten has confirmed that several offers have been made for the company as the deadline closed last night for non-indicative bids to takeover the struggling broadcaster.

In a statement released to the Australian Securities Exchange this morning, Ten said its adviser, Citigroup, has received “non-binding, conditional proposals from a number of parties which, if implemented, could result in a change of control of Ten or a refinancing of its debt facilities”.

An independent committee of the Ten board will now consider the proposals in conjunction with Citigroup. Ten highlighted the non-binding and conditional nature of the proposals and stressed it “may or may not” result in a deal being reached.

A joint bid from Foxtel and Discovery Communications remains the apparent front-runner to buy the network despite reports this morning it has reduced the price of an indicative offer tabled several weeks ago.